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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Box-By-The-Riviera™ who wrote (34423)1/7/1999 2:20:00 PM
From: Merritt  Read Replies (1) of 95453
 
Joel:

While your post was addressed to Gary, I'd like to put up a thought. If OPEC cuts production, Venezuela included, it's going to cause a short-term drop in their income...and I'm wondering if the rumor of Brazil defaulting on some foreign debt isn't a precursor of just such a cut...and a default by Venezuela, also.
Of course if I were a cynic<G>, I'd be wondering if Clinton wasn't encouraging talk of defaults to shake the market, so his supporters can point to the market weakness as a result of the Senate trial. Then, when some damaging evidence was introduced, he could come on stage with Rubin and tell everybody that they'd arranged credits to bail out a minor glitch in those economies, and everything was now OK. Saving the free world and our stock markets, whatta guy.<G>
Nah, he wouldn't do something like that, would he?...I've probably seen too many Oliver Stone movies.<G>
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